Acting as a third-party utility, SmartStream not only provides the operational IT platform for its clients, but works alongside their internal teams required to deliver middle- and back-office processes and reference data managed services. SmartStream effectively lifts out all these operations and undertakes them on a client’s behalf.
In recent years there has been a significant growth in transaction volumes, with financial institutions having to speed up processes and prevent the occurrence of backlogs. Regulatory initiatives are putting increasing pressure on organisations as they are having to report intraday and in some cases on real-time basis.
In answer to these industry challenges, SmartStream has created the Centre of Excellence (CoE) to provide managed services for its TLM and RDU solution suits. Staffed by skilled personnel, the CoE provides rapid, cost-effective and highly efficient processing.
As part of its Managed Services offering, benefits include:
- No IT overheads or people costs, resulting in substantially reduced total cost of ownership
- Accelerated performance through SLA and KPI measurement
- Ease of data reporting
- Significant improvements to efficiency and lowering cost
- Enables the bank to maintain a control team to monitor performance